Workday (NASDAQ:WDAY) Now Covered by DA Davidson

Equities researchers at DA Davidson initiated coverage on shares of Workday (NASDAQ:WDAY) in a report issued on Tuesday, PriceTargets.com reports. The firm set a “buy” rating and a $300.00 price target on the software maker’s stock. DA Davidson’s price objective points to a potential upside of 12.53% from the company’s current price.

Several other brokerages also recently issued reports on WDAY. Bank of America upped their price target on shares of Workday from $300.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 27th. Needham & Company LLC upped their price objective on shares of Workday from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, September 22nd. Loop Capital upped their price objective on shares of Workday from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, August 30th. Barclays upped their price objective on shares of Workday from $309.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, September 17th. They noted that the move was a valuation call. Finally, Oppenheimer reissued a “buy” rating and set a $285.00 price objective (up previously from $265.00) on shares of Workday in a research note on Friday, August 27th. Four research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of “Buy” and an average target price of $305.00.

Shares of WDAY opened at $266.60 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $255.23 and its two-hundred day moving average is $244.86. Workday has a twelve month low of $201.62 and a twelve month high of $282.77. The firm has a market capitalization of $66.12 billion, a P/E ratio of -1,481.03 and a beta of 1.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Wednesday, August 25th. The software maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.45. Workday had a negative net margin of 0.79% and a positive return on equity of 3.49%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Analysts predict that Workday will post 0.09 EPS for the current year.

In related news, Director David A. Duffield sold 298,688 shares of the firm’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $251.13, for a total value of $75,009,517.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gomez Luciano Fernandez sold 1,770 shares of the firm’s stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $270.92, for a total value of $479,528.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 579,787 shares of company stock valued at $151,807,535. 24.06% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the company. Hollencrest Capital Management increased its stake in shares of Workday by 52.2% in the third quarter. Hollencrest Capital Management now owns 3,500 shares of the software maker’s stock valued at $875,000 after buying an additional 1,200 shares in the last quarter. Scout Investments Inc. bought a new position in Workday in the third quarter valued at about $11,933,000. Financial Management Network Inc. bought a new position in Workday in the third quarter valued at about $250,000. Alta Wealth Advisors LLC boosted its holdings in Workday by 1.2% in the third quarter. Alta Wealth Advisors LLC now owns 3,285 shares of the software maker’s stock valued at $821,000 after acquiring an additional 39 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in Workday by 52.7% in the third quarter. CHICAGO TRUST Co NA now owns 8,203 shares of the software maker’s stock valued at $2,049,000 after acquiring an additional 2,830 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

About Workday

Workday, Inc engages in the development of enterprise cloud applications for finance and human resources. It delivers financial management, human capital management and analytics applications designed for companies, educational institutions and government agencies. The company was founded by David A.

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Analyst Recommendations for Workday (NASDAQ:WDAY)

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